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Salary raise for public sector employees may affect inflation: Kazakhstan’s National Bank Governor Gregory Marchenko

11 july 2011, 09:29
0
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Kazakhstan’s National Bank Governor Gregory Marchenko does not rule out that salary raise for public sector employees may affect inflation, he said that during the on-line conference at Profinance.kz July 8.

“In the recent years monetary income of people has been growing, including through salary raise of public sector employees. This has been driving purchasing power of some people upwards, affecting inflation to some extent”, Marchenko said.

Salaries of public sector employees have been raised by 30% since July 1. In the key note address President Nazarbayev promised that salaries of public sector employees and pensions will be doubled by 2012 against 2008. Pensions grew by 30% January 1.

According to the State Agency for Statistics, in June inflation stood at 8.4% against June 2010.

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